Investments Financial News

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Ethereum's native token Ether (ETH) plunged to its lowest level in almost two months against Bitcoin (BTC) as a crypto market sell-off intensified on May 12.

A crypto trader who defrauded over 170 people was sentenced to 42 months in prison on May 11 for operating a series of cryptocurrency funds claiming to make big returns but in reality were losing money and instead operated as a Ponzi scheme.

Townsquare Media, a New York based digital marketing and radio station company is the latest business to back the original cryptocurrency with its addition of $5 million worth of Bitcoin (BTC) to its balance sheet.

The Flow ecosystem is set to get a boost in support from a new $725 million fund that will be used to invest in the growth of the nonfungible token network.

The global cryptocurrency exchange KuCoin aims to go beyond centralized trading services and focus on Web3 with new funding backed by firms like Circle Ventures.

Australians will soon have more options for spot cryptocurrency exchange-traded funds (ETFs) after a previous hold-up was given the green light this week and new funds entered the ETF market.

As the acceptance of crypto investment rises in India, crypto funds are getting mainstream. Tykhe Block Ventures is an emerging homegrown crypto firm which aims to manage $30 million by the end of the year. «A delay in adoption of crypto in India may just increase brain drain from the country,» said Prashant Malik, Founder and General Partner at Tykhe Block Ventures. After a stint in Meta (formerly Facebook), Prashant Malik co-founded the e-commerce platform Limeroad. He has been among the early investor/advisors in the crypto companies such as CoinSwitch, Neo Banj Juno and Bluzelle. Edited excerpts from an interview:What kind of work does Tykhe Block Ventures do? Do you invest for yourself or manage funds for other investors as well? How big is your fund and how much return, in percentage terms, have you been able to reap so far?We are a crypto-asset investment firm. We invest in ventures and hold liquid investments within the blockchain sector with a focus on decentralisation technologies, digital assets and their key enabling infrastructure. We started private, we were only managing our own money, me and my partners pooled in the initial capital and we went with our idea of investing in frontier tech related to blockchain and Web3. After a full year of operation, we currently have roughly about 7 times in AUM over our initial capital. With this proven success behind us, we are now in the process of launching a $30 million fund, where we are inviting investors to take part in this journey with us.

Republican Senator Tommy Tuberville from Alabama has unveiled a new bill he calls the Financial Freedom Act to allow Americans to add cryptocurrency to their 401(k) retirement savings plan unencumbered by regulatory guidance.

Luna Foundation Guard (LFG), a Singapore-based nonprofit tied to the Terra Luna ecosystem, has raised another $1.5 billion to further expand its already hefty Bitcoin (BTC) reserves.

Institutional investors shed $133 million worth of Bitcoin (BTC) investment products last week, marking the largest week of outflows since June last year.

Business intelligence firm MicroStrategy said it will consider opportunities for yield generation on 95,643 “unencumbered” Bitcoin (BTC) held by its subsidiary MacroStrategy.

Swiss privacy startup Nym Technologies announced it has secured $300 million in commitments from venture capital partners in support of the NYM Innovation Fund. Nym intends to issue grants to developers and incentivize them to build on top of Nym's decentralized infrastructure. This funding comes a couple of weeks after its native token NYM launched on major crypto exchanges, including OKX and Huobi. 

XRP opened May with a decent price rebound after falling 28% in April, its worst monthly performance since June 2021. Furthermore, the XRP/USD pair shows prospects of continuing its recovery trend in the coming weeks.

ApeCoin (APE) caught its bulls off-guard with APE price losing nearly 40% in just three days.

On April 28, discount-brokerage platform Robinhood published its financial results for the first quarter of 2022. Year-over-year, the firm's net revenue declined by 43% to $299 million. Specifically, revenue from cryptocurrency trading fell by 39% to $54 million during the same period. This was partly due to a decrease in the interest in meme stocks as well as an ongoing cryptocurrency bear market that dominated much of the first three months of the year.

Goldman Sachs has offered its first Bitcoin-backed loan, in a major step forward for institutional cryptocurrency adoption on Wall St. 

There’s a special bond between mothers and their sons. For pseudonymous Alan, a 28-year-old engineer, a Bitcoin (BTC) loan helped his mom to buy a house.

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century.

Two former Jefferies Financial Group executives are set to launch a new cryptocurrency exchange designed for institutional investors. 

Global crypto exchange Bitstamp released its Crypto Pulse survey on Tuesday and revealed that 80% of institutions and 54% of the retail investors who participated believe that crypto will overtake many traditional investment vehicles within a decade.